HOUSTON, September 28, 2017 – Quorum, the leader in digital transformation for the oil and gas industry, announced today it has acquired WellEz, a leader in cloud-based well lifecycle analytics for the upstream oil and gas industry. From land management to accounting, field operations, energy marketing, and now the addition of well lifecycle analytics, Quorum is the only software provider to offer a complete suite of cloud-based digital oilfield solutions.
Quorum, a portfolio company of Silver Lake Partners and Silver Lake Kraftwerk, did not disclose deal terms or any financial details.
“As Quorum continues to expand its technology platform, the addition of well lifecycle analytics will allow our customers to better navigate the uncertain economic climate by streamlining operations and minimizing costs,” said Perry Turbes, CEO and President of Quorum. “WellEz has spent the past 15 years focused on helping upstream oil and gas companies improve operational efficiencies by capturing, tracking, and managing drilling and production operations data.”
“The combination of WellEz and Quorum provides our mutual customers with the ability to selectively and logically expand their digital oilfield footprint in ways that are both compelling and unique,” said Charles Jeffery, CEO of WellEz. “Our customers are excited about the synergies that this can bring to them.”
“WellEz is a direct fit into Quorum’s upstream products and technology focus,” said James Morley, COO of WellEz. “Quorum shares our customer-first values in developing solutions to fit their evolving needs. I believe our customers will see tremendous value in the integrated suite of cloud-based applications including AFE, production, land, and business intelligence.”
WellEz expands Quorum’s product portfolio in the following areas:
• Complete Well Lifecycle Reporting that includes out-of-the-box automated reports for drilling, completions, workover, facilities, construction, and production for all stakeholders – including engineers, partners, and executives.
• Downtime and Asset Tracking that uncovers critical data on asset performance and work order status, boosting productivity and minimizing downtime by helping keep assets functioning at peak productivity.
• Wellbore Diagrams drawn automatically from data entered in the field as opposed to diagrams drawn in spreadsheets or by hand – thereby driving efficiencies and minimizing errors.
Quorum and WellEz share complementary technology strategies. The addition of WellEz reinforces Quorum’s commitment to cloud-based, mobile-first technology that integrates into the unique business processes of energy companies. WellEz software will continue to be offered standalone or integrated with Quorum solutions, and all members of the WellEz team will join Quorum and continue to support their industry-leading solutions for well lifecycle analytics.
Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all midstream companies in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we’re helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit www.quorumsoftware.com.
Founded in 2000, WellEz is a privately held, international oilfield service company located in Houston, Texas. The leading provider of cloud-based drilling lifecycle reporting software, WellEz is led by experienced oil and gas professionals and a team of highly qualified software developers. The company’s web‐based field software for well lifecycle reporting is the comprehensive solution to limitations, user difficulties, and support issues that are often encountered with traditional reporting software. For more information, visit www.wellez.com.